The precautionary demand for money: A rigorous foundation

Consumers' demand for money to hold is shown rigorously to be related to possible but uncertain purchase opportunities rather than to total consumption (income) or to the variability of bond yields. A formal model of consumers' demand for precautionary balances is analyzed. It implies that...

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Bibliographische Detailangaben

Veröffentlicht in:	Journal of monetary economics 1980-07, Vol.6 (3), p.419-432
Hauptverfasser:	Plessner, Yakir, Reid, Joseph D.
Format:	Artikel
Sprache:	eng
Schlagworte:	Balances Cash Consumer spending Consumers Consumption Demand Money
Online-Zugang:	Volltext
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